Wednesday, August 2, 2017

China Ag Imports Outpace Exports in H1 2017

The Ministry of Agriculture reports that China's agricultural imports surged to $61.2 billion in the first half of 2017, while agricultural exports were $34.9 billion. The value of imports was 14.5 percent ahead of the same period last year, and exports were up 3 percent. Oilseeds were the largest agricultural import category, valued at $20.8 billion in H1 2017. China also imported $2.7 billion in edible oils. Oilseed and edible oil imports were both up more than 26 percent from last year. Livestock imports were $12.4 billion, up 6.5 percent from a year ago. China has trade surpluses in aquatic products and vegetables. (The statistics do not report a number of processed foods, beverages, and live animals.)

China
agricultural imports and exports, January-June 2017

Category

Imports

y-o-y change

Exports

y-o-y change

Bil. $

percent

Bil. $

percent

Agricultural products

61.22

14.5

34.92

3

Cereal grains

3.29

-2.8

0.36

74.1

Cotton

1.29

56.1

--

Sugar

0.7

43.2

--

Oilseeds

20.83

26.2

0.85

16.3

Edible oils

2.72

26.8

0.1

47.8

Livestock

12.38

6.5

2.93

11.3

Aquatic products

5.1

18.7

9.83

2.1

Vegetables

0.26

6.1

7.28

7.3

Fruit

3.38

-0.3

2.71

-6.3

Grain imports were valued at $3.3 billion in H1 2017, and totaled 13.7 million metric tons. Wheat and barley imports were up sharply, but corn and sorghum imports plunged. The volume of rice imports was up 6.5 percent to 2.1 mmt.